中新网昆明12月29日电 (记者 韩帅南)记者29日从在昆明召开的《云南省民营企业社会责任报告(2025)》 新闻发布会上获悉，今年前三季度，云南省民营经济增加值占GDP比重已提升至53.7%，全省民营经营 主体累计达668.28万户。 当日发布的《云南省民营企业社会责任报告(2025)》(以下简称《报告》)，以全省1650家民营企业的问 卷调查数据为基础，结合省级有关部门的权威信息，并遵循全国工商联相关评价标准编制而成。 《报告》指出，民营经济是云南高质量发展的关键支撑。2024年，全省民营经济增加值达16791.9亿 元，占GDP比重为53.3%，对经济增长的贡献率高达60.7%。截至2024年底，全省民营经营主体累计达 663.04万户，占经营主体总量的97.5%，其中私营企业当年新增32.34万户，市场活力持续迸发。 在绿色发展方面，调研显示，样本企业环保投入同比增长4.2%，综合能耗下降7.5%。超过11%的企业入 选各级绿色制造名单，清洁生产、节能减排成为普遍实践。 在乡村振兴方面，截至2024年底，全省累计6399家企业及商(协)会参与"万企兴万村"行动，实施项目 8797个，覆盖村庄5548个 ...

作者丨杨坪 编辑丨巫燕玲 回望2025年的A股IPO市场，呈现出明显的"前低后高"的特征。年初，IPO仍处变奏之下，沪深交易所的IPO在审企业一度降至百家，创业板 在5月30日之前一直"零受理"。 直到6月18日，中国证监会主席吴清在陆家嘴论坛正式官宣科创板"1+6"政策措施，并宣布"在创业板正式启用第三套标准"，为更多未盈利高 科技企业畅通上市通道。 Wind数据显示，今年以来（截至12月29日，下同），沪深北三大交易所合计受理了244家企业的IPO申请，其中八成（180家）都是"618新 政"后受理的项目。 新股端亦是一片热闹景象。 截至12月29日，今年以来，A股新上市企业数量合计111家，较去年全年增长12.12%；IPO募集资金合计1253.24 亿元，较去年全年增长 96.25% 。受市场行情回暖等因素影响，今年上市的新股无一破发，上市首日平均涨幅达到 256.77% 。 接下来的两天时间里，A股市场还将迎来蘅东光（北交所）、誉帆科技（深市主板）、双欣环保（深市主板）和强一股份（科创板）四只新 股，四家企业合计IPO募资56.42亿元，将让A股市场2025年全年募资额突破1300亿元。 "服务科技 ...

Group 1 - The core viewpoint of the article is that Zhongji Renkeng (301508.SZ) has successfully entered a new phase of development characterized by capital empowerment and industrial upgrading after listing on the Shenzhen Stock Exchange's Growth Enterprise Market [1] - The company emphasizes that its technological innovation capability is crucial for its core competitiveness and market influence, leading to the establishment of a specialized technology management department [1] - The newly established Technology Development Department will focus on research in new fields, project management, formulation of technology innovation policies, resource allocation, and management of industry-academia-research cooperation [1] Group 2 - The company aims to enhance the role of technology support in its management practices, accelerate value creation processes, and continuously improve its governance structure and management framework [1] - The responsibilities of the Technology Development Department also include applying for new platforms at national, local, and industry levels [1]

转自：推广 12月29日24时，由蜀道集团（藏高公司投资，公路设计院公司、交通设计院公司设计，四川路桥承建的）投资建设久马高速，在继阿坝段、刷经寺段通车 98.5公里之后，再通87.5公里，本次通车路段由阿坝互通至安羌服务区段23.6公里、海子山停车区至中壤口互通段63.9公里（以下简称"通车段"）组成，成都 市民驾车前往红原大草原的时间将正式迈入"4小时时代"。 久马高速阿坝互通至安羌服务区23.6公里段落 通车段串联起红原县、阿坝县多个乡镇与交通节点，首次实现了阿坝县与红原县高速直连，不仅大幅缩短区域内通行时间，还将进一步盘活沿线旅游、农牧 等资源，为川西高原地区经济社会发展注入强劲交通动能。 这份兑现承诺的背后，是蜀道建设者在极端环境下的攻坚克难。久马高速全线平均海拔3300米以上，年均温度仅1.4℃，自然环境极其恶劣。沿线穿越湿地 软土区、高原季冻区、隧道软岩区等多个复杂地质条件，生态环境极其敏感脆弱。建设过程中，项目解决了高原地区生态环境保护、湿地软基冻土处治、路 面抗裂抗老化建造及隧道软岩大变形防控等多个方面的技术难题。 生态优先 交出绿色发展的高原答卷 久马高速地处川西北生态示范区，高原生态环境 ...

Group 1 - The core issue affecting China's economic growth is the demand problem, which has been prioritized in economic work for two consecutive years [2] - The overall economic performance in China shows resilience and stability, but the imbalance between strong supply and weak demand remains a significant challenge [2] - The main contradiction in economic operation is shifting from the supply side to the demand side, necessitating a focus on resolving demand issues for sustainable economic development [2] Group 2 - The acceleration of domestic demand expansion policies has led to positive outcomes, but consumption demand is constrained by both short-term fluctuations and long-term structural factors [3] - Short-term measures should include strong stimulus policies to break negative cycles, while long-term strategies must address deep-rooted issues to ensure stable growth [3] - The shift in consumer behavior from goods to services highlights the need for increased support in service consumption, particularly in education, healthcare, and elder care [3] Group 3 - Investment remains crucial alongside consumption, as effective investment is necessary to meet consumption demands and expand consumption space [4] - There is significant potential for effective investment, particularly in urban development and addressing social welfare gaps [4] - The decline in private and foreign investment underscores the need for policy innovation and improved business environments to boost investor confidence [5][6]

"科技创新突破卷"。 市属国企累计研发投入超200亿元，研发强度超4.5%，长期稳居全省第一；建成国 省级创新平台103个，培育国省级"专精特新"企业49户。 更有一批"硬核成果"惊艳亮相：长虹量子重力 仪、中玖FLASH放疗设备等达到国际领先水平，九洲航天线缆填补国内空白；华丰连接器、长虹电源 系统等走进神舟飞船、C919大飞机，让中国科技城的"金字招牌"更闪亮。 "国企改革深化卷"。 高质量完成国企改革三年行动和深化提升行动，改革成效获省国资委"优秀"评 价，九洲改革案例入选国务院国资委典型案例。 资本布局持续优化，整合同质化业务，组建现代种 业、低空经济等新兴产业企业。 资产证券化再提速，新增4家上市公司，市属国有控股上市公司增至9 户。 机制创新全面深化，"能上能下、能进能出、能增能减"的市场化机制落地生根，专业化、体系 化、法治化监管体系进一步健全，改革红利加速释放。 "民生服务暖心卷"。 市属国企在岗职工超10万人，"十四五"新增就业1.5万余人；燃气、水务集团服务 覆盖主城区60%、75%用户，稳稳兜住民生"基本盘"。 为7769户中小微企业减免房租2.75亿元，驰援武 汉、保供上海、援助西藏， ...

下半年以来，A股IPO审核明显提速，尤其是在科技创新领域，涌现了不少标志性的项目。科创板上，第五套标准恢复审核与受理，禾元生物、必贝特、 西安奕材、摩尔线程、沐曦股份等多家企业登陆科创成长层；创业板也正式启用未盈利上市标准，接连受理了大普微、粤芯半导体两家亏损企业，目前 大普微已经成功过会。 21世纪经济报道记者 杨坪 资本市场支持科技的阀门精准开启，活水正在涌向最需要的田野。 回望2025年的A股IPO市场，呈现出明显的"前低后高"的特征。年初，IPO 仍处变奏之下，沪深交易所的IPO在审企业一度降至百家，创业板在5月30日之 前一直"零受理"。 直到6月18日，中国证监会主席吴清在陆家嘴论坛正式官宣科创板"1+6"政策措施，并宣布"在创业板正式启用第三套标准"，为更多未盈利高科技企业畅 通上市通道。 wind 数据显示，今年以来（截至12月29日，下同），沪深北三大交易所合计受理了244家企业的IPO申请，其中八成（180家）都是"618新政"后受理的项 目。 新股端亦是一片热闹景象。截至12月29日，今年以来，A股新上市企业数量合计111家，较去年全年增长12.12%；IPO募集资金合计1253.24亿 ...

1月,《关于推动中长期资金入市工作 的实施方案》出台,推动建立健全对各 类中长期资金的长周期考核机制。方案 提出:提升商业保险资金A股投资比例 与稳定性;优化全国社会保障基金、基 本养老保险基金投资管理机制;提高权 益类基金的规模和占比等。 02 增强资本市场含"科" 量 本文来源：新华财经 作者：刘玉龙、丁晶 2025年政府工作报告提出:"因地制宜 发展新质生产力,加快建设现代化产业 体系""推动科技创新和产业创新融合 发展"。聚焦服务新质生产力发展,中国 证监会深化科创板、创业板、北交所改 革,提升制度的包容性和适应性,加快 构建更有利于支持全面创新的资本市场 生态,不断提升资本市场含"科"量。 ０３ "中国版平准基金" 稳市场稳预期 4月8日,中央汇金公司有关负责人表示, 中央汇金公司一直是维护资本市场稳定 的重要战略力量,是资本市场上的"国 家队",发挥着类"平准基金"作用。 当日,中国人民银行明确表示,坚定支 持中央汇金公司加大力度增持股票市场 指数基金,并在必要时向中央汇金公司 提供充足的再贷款支持,坚决维护资本 市场平稳运行。 04 推进公募基金高质量发展 5月7日,中国证监会印发《推动公募基 ...

Core Viewpoint - Aoyou is committed to innovation throughout the entire chain from research to industrialization, aiming to elevate the Chinese dairy industry to a higher level by launching over 30 new and upgraded products by 2025 [1][2]. Group 1: Product Innovation - Aoyou's flagship product, Jia Bei Ai Te Yue Bai, utilizes the "An Min Yuan" whey protein optimization technology to significantly reduce allergenic risks, winning the "First Prize for Technological Progress" from the China Dairy Association [1][2]. - The company has established a "1+6+N" global R&D system and collaborates with renowned universities and research institutions to enhance product innovation and upgrade its product matrix [2][4]. - Aoyou's product offerings include various new and upgraded items in both the milk powder and nutritional supplement sectors, providing diverse health choices for consumers [2]. Group 2: Market Leadership - Jia Bei Ai Te has maintained a leading market share of over 60% in the imported infant goat milk powder market in China for seven consecutive years, and has achieved high double-digit compound growth rates in overseas markets for two years [3]. - The company has received the "China Patent Award Excellence Award" and has conducted over 40 studies on goat milk, validating the nutritional advantages of its products [3]. Group 3: Collaborative Innovation - Aoyou is focused on building a collaborative innovation ecosystem by deepening partnerships with universities and research institutions, which will help tackle key technological challenges in the dairy industry [4]. - Strategic cooperation agreements have been signed with Jiangnan University and Northeast Agricultural University to establish innovation centers aimed at advancing dairy product research and technology breakthroughs [4]. Group 4: Fundamental Research and Industry Advancement - Aoyou has made significant breakthroughs in basic research, launching four new goat milk raw materials that are commercially applicable globally, which will be integrated into various products such as formula milk and nutritional supplements [5]. - The company's approach to technological innovation is deeply rooted in consumer needs, driving collaborative research and development forward [5].

Core Viewpoint - 2025 is a pivotal year for the Chinese securities industry, focusing on deepening functional positioning and high-quality development, with an emphasis on mergers and acquisitions, international expansion, and technological innovation [2][4]. Group 1: Industry Development Strategy - The industry development strategy is projected in two dimensions: internally, to create a first-class investment bank through mergers and acquisitions; externally, to recommend the value of Chinese assets to global markets [2]. - High-quality development is the main theme, requiring securities firms to act as both market participants and builders, as well as to become "boosters" of technological innovation and "guardians" of residents' wealth [2]. Group 2: Mergers and Acquisitions - 2025 marks a critical year for mergers and acquisitions in the Chinese securities industry, with major firms merging and smaller institutions seeking transformation [4]. - Notable mergers include the formation of "Guotai Haitong Securities" from Guotai Junan and Haitong Securities, and the merger of Guolian Securities and Minsheng Securities, which has significantly improved their profitability rankings [4][5]. - The merger wave is reshaping the competitive landscape, with the top firms now dominating profit rankings [4]. Group 3: Classification Evaluation - The classification evaluation of securities firms is undergoing significant revisions in 2025, emphasizing the need for firms to enhance their functional roles and professional capabilities [6]. - New regulations remove the revenue bonus while increasing the emphasis on return on equity (ROE), guiding firms to focus on operational efficiency rather than mere scale [6][7]. Group 4: Margin Trading and Financing - The margin trading market is heating up, with a record balance of 2.54 trillion yuan, reflecting a 36.6% increase from the beginning of the year [9]. - Competition among firms has intensified, with some lowering financing rates below 4% to attract clients, indicating a shift towards long-term client retention strategies [9][10]. Group 5: Investment Banking and Technology - The securities industry is adapting to the "hard technology" era, with reforms aimed at providing more inclusive financing paths for tech companies [11]. - Firms are establishing research institutes focused on emerging industries and enhancing their service capabilities through collaboration and talent development [13]. Group 6: AI Integration - The adoption of AI technologies is rapidly transforming the securities industry, with firms implementing AI across various business functions, significantly improving efficiency [15]. - The shift towards AI-driven services is seen as a critical factor in maintaining competitive advantage, with some firms fully committing to AI integration [15]. Group 7: Internationalization - Chinese securities firms are deepening their internationalization efforts, expanding their service offerings beyond traditional roles to include cross-border wealth management and derivatives trading [17]. - The internationalization process is driven by both market demand and strategic goals, positioning firms as key players in the global market [17][18]. Group 8: Asset Management Transformation - The public offering process for asset management is reaching a turning point, with firms reassessing their roles in the broader asset management landscape [19]. - The transition of collective investment products is a priority, with many firms adapting to regulatory changes and focusing on private equity and other specialized products [20][21]. Group 9: Capital Space Optimization - Regulatory changes are encouraging firms to optimize capital management, with a focus on enhancing capital utilization efficiency [25]. - The average leverage ratio of listed securities firms is currently at 3.45 times, indicating room for improvement compared to other financial institutions [25]. Group 10: Name Changes Reflecting Strategic Shifts - A wave of name changes among securities firms signals strategic realignments and resource restructuring following mergers and acquisitions [26]. - The name changes often reflect deeper integration and new strategic directions, indicating a shift in focus and operational capabilities [26][28].